Accounting Skills for New Supervisors

Course Code: LM102

Many of us flinch when we hear terms like depreciation, cash flow, balance sheet, and (worst of all!) budgets. However, these are all important concepts to understand if you’re going to succeed in today’s business world, particularly as a supervisor. Even better, financial terms are not as scary as they seem!

Course Overview

Over the course of this two-day accounting skills workshop, participants will learn:

The art of finance and financial management

Key financial terms

Their role in company finances

Where to find the rules and regulations for their area and industry

Various types of financial reports, including income statements, balance sheets, cash flow statements, and statements of retained earnings

How a chart of accounts is created

Cash and accrual accounting

Single and double entry bookkeeping

Debits and credits

Identifying and analyzing important financial data

Making financial decisions

Reading annual reports

Determining whether a company is financially high or low risk

Different types of organizational financial plans

What budgets are and how to prepare them

What computer skills they need to make you a financial whiz

Dealing with financial situations that impact the people that work for them

Course Outline

Getting the Facts Straight

The first session will go over basic financial terms. Then, participants will explore their role in company finances as well as important players in an organization’s finances. To wrap up the session, participants will receive some resources for learning about the governing organizations in their area.

The Accounting Cycle

Next, participants will learn about the four phases of the accounting cycle. They will also learn about key underlying concepts, including cash vs. accrual methods of accounting.

The Key Reports

In this session, participants will take a close look at balance sheets and income statements. They will also review cash flow statements and statements of retained earnings. The session will conclude with a review activity.

Keeping Score

This session will explain the chart of accounts and single vs. double entry accounting.

A Review of Financial Terms

Day Two will start with a review exercise and an introduction to some additional financial terms.

Understanding Debits and Credits

This session will de-mystify two terrifying accounting terms: debits and credits.

Your Financial Analysis Toolbox

This session will give participants some sources for financial data as well as tips on weeding out useless information. We’ll also cover how to calculate common ratios, how to read an annual report, and some useful decision making tools.

Identifying High and Low Risk Companies

In this session, participants will learn about some guidelines for identifying high and low risk companies. Then, they will practice these guidelines in a case study.

The Basics of Budgeting

Next, participants will learn what a budget is, how their budget should fit into the big picture, and what the budgeting process should look like.

Working Smarter

This session will give participants a basic checklist of computer skills required for success. We’ll also talk about how to choose an accounting package.

People and Numbers

Dealing with finances isn’t all numbers. What if an employee’s expense report doesn’t look correct? Or what if you have to make cuts to someone’s pay? Participants will examine each situation in small groups, and then provide some tips on what to do.

Workshop Wrap-Up

E-Learning

Why Choose E-Learning?

With busy home lives and work schedules it can be difficult to take the time to attend a Live seminar or workshop. E-Learning is an ideal solution!

Our web-based training offers the same quality content as our in-class courses, while allowing you to complete the lessons at your own pace and convenience, all from the comfort of your own home, office or even while you are on the road!

Testimonials

"It's very easy to stay focused on a difficult subject. It's good to know how to use the tools when you're confronted by a difficult person." - Jo-Ann Towers(Seminar Rating: 15 out of 16)

"We would like to extend our appreciation for the time you took out of your busy schedule to join us. Thank you for sharing your insights and expertise with our attendees". - Board of Directors Brant Human Resources Network

"Excellent experience! Presenter was very engaging." - Anonymous

" I attended the 2-Day SEO course with Matt which really focused on website business development. The course was inspiring and made me re-think and re-create the way I was doing business. Matt combines his talents as a speaker with his great listening skills and ability to teach complex concepts in a manner that easily understandable. I would recommend going to any of Matt's course. He is one of Windsor's true business leaders."
Annesontheavenue.com- Anne Waters, Business Owner

"Great Presentation - informative and well paced. Anecdotes were a great way to reinforce topics." - Christopher Pressey, Christopher Pressey Design(Seminar Rating: 16 out of 16)

"A great introductory to recognizing the difficult people I deal with every day mostly from 8:30 - 4:30. Examples of situations & coping skills were extremely helpful. I feel the full day seminar would be tremendously informative." - Nancy Dumouchelle(Seminar Rating: 16 out of 16)

"Offered valuable tips and presented information in an interesting way! Made it easier and clearer to understand the marketing sector! Matt's charisma just makes the seminar 10 times better! Thank you!" - Maisa Ainawawreh(Seminar Rating: 16 out of 16)

"I just wanted to let you know that you definitely created an impact the last two days. The staff is singing your praises, the training was a big success. They were impressed with all they learned, you wowed them. I rarely see them this enthused about a presentation or training session. Thanks again, it was the best in house training session we have conducted bar none. Proof to me that your `low tech`approach is very effective. Great job!" - Wendy Dupuis Executive Director, Financial Fitness

"Overall, excellent session with a great pace. I loved the review. Would not change anything- Matt was superb."
- Anonymous

About

Our program topics are developed in collaboration with seasoned Executive Consultants, Human Resource Professionals, Corporate Managers and Executive Trainers who understand and embrace the difficulties and the joys associated with providing exceptional leadership through specific leadership techniques and communication strategies.